MGM101H5 Study Guide - Midterm Guide: Vestment, Asteroid Family, Andrew Fastow
25
MGM101H5 Full Course Notes
Verified Note
25 documents
Document Summary
Need startup funds: for each of the businesses above, give a suitable form of business (e. g. sole proprietorship, limited liability partnership, corporation, franchise), and a reason for your choice. Consider the level of risk, control, costs, legal liabilities, taxes etc in giving our reasons. (6 marks: in class we discussed canada"s mixed economic system. Give one major advantage of this system, and one major disadvantage of this system for a potential entrepreneur looking to set up a business in. Open markets which allow prices to be determined by supply & demand. Diversified products and service economy (evolving from agricultural base) Government subsidies to local businesses (e. g. farming) do not permit free-market competition. Combination of government ownership & private enterprise are a fundamentally european model (harold innis), which may not be exclusive in the global marketplace: ethical behavior of companies is significantly influenced by both leadership and corporate culture.
